Upside risks dominated the US Dollar against the Canadian Dollar on Thursday. The USD/CAD currency pair edged higher by 120 pips or 0.90% during Thursday’s trading session.
As for the near future, the exchange rate could continue to surge. Bullish traders are likely to target the upper boundary of a descending channel pattern at the 1.3500 level.
However, the weekly pivot point at 1.3455 could still provide resistance for the currency exchange rate today.